Gilmore is a 25-year commercial real estate auctioneer andmanaging director of Sperry Van Ness Accelerated Marketing Co.Inc., a well-established auction group that has been disposing ofcommercial properties for the past seven years. With the combinedcapabilities of the Accelerated Marketing division and the othermembers of the new asset recovery team, he says, SVN is also set upto provide services such as loan portfolio sales and workouts inaddition to property sales.

"We started doing this seven years ago because there is alwaysbank REO at some level, even during the good times," Gilmore tellsGlobeSt.com. During that time, the Accelerated Marketing unit hassold office, industrial, apartment, retail and hotel propertiesnationwide for banks, private investors, institutional sellers,REITs, insurance companies, asset managers, special servicers,receivers and other owners.

The new Sperry Van Ness asset recovery team includes 20 membersin offices around the country who have experience dating to thelate 1980s and early 1990s downturn, when they disposed ofproperties for the US government's Resolution Trust Corp. as wellas other government agencies and private sellers. In situationswhere liquidation or disposition might be premature, Gilmore says,the team members have expertise in the marketing, leasing andmanaging properties to stabilize the or add value before asale.